Zionsville Inventory Continues to Shrink in October, 2012

There has been an overall trend toward decreasing inventory over the past 15 months in Zionsville, and the month of October, 2012 proved to be no exception. Since hitting a summer peak of 274 listings, the number of homes on the Zionsville market fell for the third consecutive month, reaching a total of just 238 listings in October, down 2.1 percent versus the previous month’s total of 243. Compared to where the market was 1 year ago, this is a much greater 19.6-percent drop in total listings. Also, from August through October of this year there were, on average, just 246 homes on the market per month, or 20.4 percent fewer, compared to this same quarter last year.

A total of 38 closings took place in October. While this is unchanged versus the previous month, it is 65.2 percent above October’s of 2011’s total of just 23. Also, an average of 44 closings took place each month from August through October of this year, or 22.2 percent more, compared to this same period 1 year ago.

October’s total of 33 pending sales represents a 13.8-percent increase over the previous month’s total of 29. However, compared to this same month 1 year ago, it is an 8.3-percent decrease. In another comparison, the average number of pending sales was up nearly 12 percent from August through October of this year relative to this same quarter in 2011.